1927 E Crocus Dr Phoenix, AZ 85022
Paradise Valley Village NeighborhoodEstimated payment $4,688/month
Highlights
- Cooling Available
- Ceramic Tile Flooring
- Heat Pump System
- Shadow Mountain High School Rated 9+
About This Home
Turn-Key, Hands-Off Investment with Proven Operator | Phoenix, AZ
This is a rare, fully leased, NNN investment opportunity ideal for investors seeking predictable cash flow with zero day-to-day landlord responsibilities. The property is a 4-bedroom, 3-bathroom home with a pool, operating successfully as a licensed transitional housing facility with a strong, experienced tenant and documented operating history. The Seller has invested approximately $40,000 in recent upgrades, resulting in a modern, well-maintained, and highly functional property. With the tenant fully in place and operations stabilized, this offering is perfect for a truly passive investor. Important to see supplement The property is secured by a 5-year NNN lease at $5,200 per month, with annual rent escalations of $1,200 per year in Years 2 through 5, providing built-in income growth. The lease also includes two (2) additional 5-year renewal options, offering long-term stability and downside protection. Landlord Responsibilities: NONE.
The tenant is responsible for prorated property taxes, insurance, utilities, pool maintenance, property upkeep, and all operational expenses, allowing ownership to enjoy hands-off income with no management burden. Backed by a tenant with a very strong track record, this investment delivers durable cash flow, annual rent growth, and long-term lease securityan ideal solution for investors prioritizing stability, simplicity, and predictability.
Why This Works for Investors Fully leased, stabilized NNN investment Annual rent escalations already built into the lease Two 5-year renewal options for long-term income Experienced, credit-worthy tenant with a strong operating history No landlord responsibilities truly passive ownership Recent capital improvements already completed Immediate cash flow with upside escalations are $100/month each year (=$1,200/year), then the rent schedule is: Year 1: $5,200/mo Year 2: $5,300/mo Year 3: $5,400/mo Year 4: $5,500/mo Year 5: $5,600/mo Assuming this is true NNN (rent H NOI because tenant covers the expenses), here are the cap rates on a $850,000 price:
Cap Rate by Year (Price = $850,000)
YearMonthly RentAnnual NOICap Rate
1$5,200$62,4007.34%
2$5,300$63,6007.48%
3$5,400$64,8007.62%
4$5,500$66,0007.76%
5$5,600$67,2007.91%
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,590
Year Built
- Built in 1986
Home Design
- Wood Frame Construction
- Tile Roof
- Block Exterior
- Stucco
Flooring
- Ceramic Tile Flooring
Parking
- 4 Parking Spaces
- 2 Covered Spaces
- Paved Parking
Utilities
- Cooling Available
- Heat Pump System
Listing and Financial Details
- Tax Lot 525
- Assessor Parcel Number 214-50-196
Community Details
Overview
- 6 Units
- Building Dimensions are irr
- Cave Creek Unit 3 Subdivision
Building Details
- Operating Expense $2,590
- Gross Income $67,750
- Net Operating Income $62,400
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $2,590 | $25,342 | -- | -- |
| 2024 | $2,470 | $24,135 | -- | -- |
| 2023 | $2,470 | $41,530 | $8,300 | $33,230 |
| 2022 | $2,445 | $33,000 | $6,600 | $26,400 |
| 2021 | $2,452 | $29,100 | $5,820 | $23,280 |
| 2020 | $2,376 | $28,360 | $5,670 | $22,690 |
| 2019 | $2,379 | $26,570 | $5,310 | $21,260 |
| 2018 | $2,301 | $26,800 | $5,360 | $21,440 |
| 2017 | $2,206 | $23,930 | $4,780 | $19,150 |
| 2016 | $1,849 | $22,820 | $4,560 | $18,260 |
| 2015 | $1,715 | $19,570 | $3,910 | $15,660 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 02/21/2026 02/21/26 | For Sale | $850,000 | 0.0% | -- |
| 01/20/2026 01/20/26 | Pending | -- | -- | -- |
| 01/19/2026 01/19/26 | For Sale | $850,000 | -- | -- |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $277,000 | Pioneer Title Agency Inc | |
| Interfamily Deed Transfer | -- | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $222,000 | Purchase Money Mortgage |
Source: Arizona Regional Multiple Listing Service (ARMLS)
MLS Number: 6971140
APN: 214-50-196
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS
Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393
- 1843 E Sheena Dr
- 14432 N 18th St
- 1729 E Winchcomb Dr
- 1732 E Gelding Dr
- 2133 E Evans Dr
- 1942 E Claire Dr
- 13821 N 16th Way Unit 9
- 13619 N 18th St
- 13630 N 18th St
- 14829 N 18th Place
- 14247 N 23rd Place
- 1539 E Winged Foot Rd
- 1711 E Sharon Dr
- 2031 E Vista Dr
- 13606 N 21st Place Unit 19
- 2210 E Everett Dr
- 14828 N 21st Way
- 2201 E Marilyn Rd
- 13415 N 20th St Unit 9
- 13422 N 21st Place
- 1821 E Hearn Rd
- 14236 N 23rd St
- 1918 E Marilyn Rd
- 2104 E Eugie Terrace
- 2210 E Claire Dr
- 13420 N 21st Place
- 2366 E Evans Dr
- 13415 N 21st Place Unit 2
- 2307 E Everett Dr
- 14844 N 24th Place
- 2002 E Sweetwater Ave Unit 202
- 2002 E Sweetwater Ave Unit 108
- 2014 E Sweetwater Ave Unit 4
- 13004 N 19th Place
- 2316 E Karen Dr
- 15408 N 23rd St
- 12810 N Cave Creek Rd
- 15232 N 24th Place
- 1550 E Thunderbird Rd Unit 1
- 1550 E Thunderbird Rd Unit 2
Ask me questions while you tour the home.